FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-07866
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TEMPLETON EMERGING MARKETS INCOME FUND
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(Exact name of registrant as specified in charter)
500 EAST BROWARD BLVD., SUITE 2100, FORT LAUDERDALE, FL 33394-3091
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(Address of principal executive offices) (Zip code)
CRAIG S. TYLE, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906
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(Name and address of agent for service)
Registrant's telephone number, including area code: (954) 527-7500
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Date of fiscal year end: 8/31
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Date of reporting period: 11/30/09
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ITEM 1. SCHEDULE OF INVESTMENTS.
Templeton Emerging Markets Income Fund
STATEMENT OF INVESTMENTS, NOVEMBER 30, 2009 (UNAUDITED)
PRINCIPAL
AMOUNT(a) VALUE
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BONDS 96.1%
ARGENTINA 8.9%
Government of Argentina, senior bond,
(b, c) FRN, 0.943%, 8/03/12 140,605,000 $ 44,360,877
(d) GDP Linked Securities, 12/15/35 219,745,000 18,568,453
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62,929,330
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BOSNIA & HERZEGOVINA 1.0%
(b) Government of Bosnia & Herzegovina, FRN, 2.288%, 12/11/17 6,281,246 EUR 6,895,713
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BRAZIL 13.4%
(e) Centrais Eletricas Brasileiras SA, senior note, 144A, 6.875%, 7/30/19 4,150,000 4,435,313
Nota Do Tesouro Nacional,
9.609%, 1/01/12 30,950(f) BRL 17,076,540
9.609%, 1/01/14 20,000(f) BRL 10,428,199
9.609%, 1/01/17 46,400(f) BRL 22,643,380
(g) Index Linked, 6.00%, 5/15/15 22,055(f) BRL 22,529,397
(g) Index Linked, 6.00%, 5/15/45 17,820(f) BRL 17,403,629
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94,516,458
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COLOMBIA 1.4%
Government of Colombia,
senior bond, 11.75%, 2/25/20 4,255,000 6,318,675
senior note, 7.375%, 3/18/19 3,000,000 3,513,000
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9,831,675
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CROATIA 1.2%
(e) Government of Croatia, 144A, 6.75%, 11/05/19 7,920,000 8,564,134
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EL SALVADOR 0.4%
(e) Government of El Salvador, 144A, 7.65%, 6/15/35 2,650,000 2,650,000
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FIJI 1.7%
Republic of Fiji, 6.875%, 9/13/11 12,360,000 12,232,284
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GEORGIA 1.0%
Government of Georgia, 7.50%, 4/15/13 6,950,000 7,070,899
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GHANA 0.8%
(h) Government of Ghana, Reg S, 8.50%, 10/04/17 5,300,000 5,366,250
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HUNGARY 0.5%
Government of Hungary,
3.50%, 7/18/16 190,000 EUR 265,591
4.375%, 7/04/17 560,000 EUR 817,263
5.75%, 6/11/18 1,255,000 EUR 1,952,431
senior note, 3.875%, 2/24/20 535,000 EUR 708,447
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3,743,732
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INDIA 1.5%
(e) ICICI Bank Ltd.,
144A, 6.625%, 10/03/12 6,625,000 6,953,527
(b) sub. bond, 144A, FRN, 6.375%, 4/30/22 4,100,000 3,621,235
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10,574,762
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Quarterly Statement of Investments See Notes to Statements of Investments
INDONESIA 11.1%
Government of Indonesia,
FR26, 11.00%, 10/15/14 120,832,000,000 IDR $ 13,738,176
FR28, 10.00%, 7/15/17 18,800,000,000 IDR 2,013,221
FR31, 11.00%, 11/15/20 132,050,000,000 IDR 14,559,714
FR36, 11.50%, 9/15/19 40,000,000,000 IDR 4,579,588
FR40, 11.00%, 9/15/25 387,140,000,000 IDR 41,559,711
FR46, 9.50%, 7/15/23 3,200,000,000 IDR 308,831
FR47, 10.00%, 2/15/28 12,210,000,000 IDR 1,204,212
FR48, 9.00%, 9/15/18 5,450,000,000 IDR 541,830
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78,505,283
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IRAQ 4.6%
Government of Iraq,
(e) 144A, 5.80%, 1/15/28 41,800,000 31,324,920
(h) Reg S, 5.80%, 1/15/28 1,675,000 1,255,245
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32,580,165
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KAZAKHSTAN 6.2%
HSBK (Europe) BV,
(e) 144A, 7.25%, 5/03/17 4,305,000 3,691,538
(h) Reg S, 7.25%, 5/03/17 21,730,000 18,916,278
(e) Kazmunaigaz Finance Sub BV, 144A, 9.125%, 7/02/18 19,200,000 21,120,000
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43,727,816
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LITHUANIA 1.1%
(e) Government of Lithuania, 144A, 6.75%, 1/15/15 7,750,000 7,837,188
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LUXEMBOURG 0.8%
(e) RSHB Capital SA, 144A, 9.00%, 6/11/14 4,880,000 5,416,800
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MEXICO 2.5%
(e) Alestra SA, senior note, 144A, 11.75%, 8/11/14 1,400,000 1,562,750
Government of Mexico, M 20, 7.50%, 6/03/27 2,248,000(i) MXN 16,106,972
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17,669,722
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NETHERLANDS 1.7%
Rabobank Nederland, senior note, 8.75%, 1/24/17 157,900,000 MXN 11,790,005
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PAKISTAN 1.9%
(e) Government of Pakistan, 144A, 6.875%, 6/01/17 15,000,000 13,125,000
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PANAMA 0.5%
Government of Panama, 6.70%, 1/26/36 3,339,000 3,668,726
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PERU 2.9%
Government of Peru, 8.75%, 11/21/33 12,550,000 17,052,312
(e) Peru Enhanced Pass-Through Finance Ltd., senior secured bond, A-1, 144A,
zero cpn., 5/31/18 4,271,968 3,318,234
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20,370,546
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PHILIPPINES 0.6%
(h) Government of the Philippines, Reg S, 8.75%, 10/07/16 3,750,000 4,550,781
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POLAND 0.8%
Government of Poland, 6.25%, 10/24/15 15,380,000 PLN 5,669,166
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RUSSIA 6.9%
(h) Alfa MTN Markets Ltd. for ABH Financial Ltd., Reg S, 8.20%, 6/25/12 1,575,000 1,577,953
(h) Gaz Capital SA, senior bond, Reg S, 8.146%, 4/11/18 6,000,000 6,345,600
(e) Gazprom, secured note, 144A, 7.51%, 7/31/13 4,550,000 4,810,310
(h) Government of Russia, senior bond, Reg S, 7.50%, 3/31/30 5,010,200 5,662,278
LUKOIL International Finance BV,
(e) 144A, 6.356%, 6/07/17 890,000 863,300
(e) 144A, 6.656%, 6/07/22 4,540,000 4,244,900
(h) Reg S, 6.356%, 6/07/17 2,300,000 2,248,250
(h) Reg S, 6.656%, 6/07/22 3,970,000 3,751,257
VTB Capital (VNESHTORGBK), 6.315% to 2/04/10, 7.815% thereafter, 2/04/15 17,000,000 $ 16,713,550
(e) VTB Capital SA, senior note, 144A, 6.25%, 6/30/35 $ 2,400,000 2,292,000
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48,509,398
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SOUTH AFRICA 2.0%
(b, e) Edcon Holdings, 144A, FRN, 6.273%, 6/15/15 1,200,000 EUR 923,300
(b, h) Edcon Proprietary Ltd., senior secured note, Reg S, FRN, 4.023%, 6/15/14 2,100,000 EUR 2,017,747
Government of South Africa,
4.50%, 4/05/16 4,000,000 EUR 5,933,498
senior note, 5.875%, 5/30/22 5,000,000 5,096,875
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13,971,420
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SOUTH KOREA 0.9%
Korea Treasury Bond,
0400-1206, 4.00%, 6/10/12 2,051,690,000 KRW 1,756,287
0475-1112, 4.75%, 12/10/11 2,804,070,000 KRW 2,441,750
0475-1203, 4.75%, 3/10/12 2,255,000,000 KRW 1,962,621
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6,160,658
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SRI LANKA 2.5%
Government of Sri Lanka,
(e) 144A, 7.40%, 1/22/15 3,500,000 3,587,500
A, 8.50%, 1/15/13 312,300,000 LKR 2,617,101
A, 13.50%, 2/01/13 303,200,000 LKR 2,891,434
A, 11.25%, 7/15/14 354,200,000 LKR 3,171,407
A, 11.00%, 8/01/15 607,700,000 LKR 5,375,410
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17,642,852
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(j) SUPRANATIONAL 5.1%
African Development Bank, senior note, 340, 25.50%, 6/24/11 8,200,000 GHS 6,360,560
Corporacion Andina De Fomento, 8.125%, 6/04/19 4,550,000 5,411,087
Inter-American Development Bank, senior note, 7.50%, 12/05/24 355,000,000 MXN 23,830,617
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35,602,264
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TRINIDAD AND TOBAGO 0.8%
Petro Co. of Trinidad and Tobago Ltd., senior note,
(e) 144A, 9.75%, 8/14/19 4,500,000 5,099,289
(h) Reg S, 9.75%, 8/14/19 210,000 237,967
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5,337,256
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UKRAINE 4.0%
(e) City of Kiev, 144A, 8.625%, 7/15/11 22,400,000 18,144,000
(e) Government of the Ukraine, 144A, 7.65%, 6/11/13 11,948,000 9,901,905
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28,045,905
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UNITED ARAB EMIRATES 0.8%
(e) DP World Ltd., 144A, 6.85%, 7/02/37 8,080,000 6,012,820
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UNITED STATES 1.9%
General Electric Capital Corp., senior note, A, 8.50%, 4/06/18 185,000,000 MXN 13,074,511
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VENEZUELA 4.7%
Government of Venezuela, 10.75%, 9/19/13 3,800,000 3,515,000
(h) senior bond, Reg S, 5.375%, 8/07/10 870,000 854,775
Petroleos de Venezuela SA, senior bond, zero cpn., 7/10/11 35,985,000 28,832,981
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33,202,756
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TOTAL BONDS (COST $646,278,475) $676,846,275
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SHORT TERM INVESTMENTS (COST $8,156,875) 1.2%
SHARES
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MONEY MARKET FUNDS 1.2%
UNITED STATES 1.2%
(k) Institutional Fiduciary Trust Money Market Portfolio, 0.00% 8,156,875 $ 8,156,875
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TOTAL INVESTMENTS (COST $654,435,350) 97.3% 685,003,150
OTHER ASSETS, LESS LIABILITIES 2.7% 18,976,076
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NET ASSETS 100.0% $703,979,226
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(a) The principal amount is stated in U.S. dollars unless otherwise indicated.
(b) The coupon rate shown represents the rate at period end.
(c) The principal amount is stated in original face, and scheduled paydowns are
reflected in the market price on ex-date.
(d) Security is linked to the Argentine GDP and does not pay principal over the
life of the security or at expiration. Security entitles the holder to
receive only variable income payments, subject to certain conditions, which
are based on growth of the Argentine GDP and the principal or "notional"
value of this GDP linked security.
(e) Security was purchased pursuant to Rule 144A under the Securities Act of
1933 and may be sold in transactions exempt from registration only to
qualified institutional buyers or in a public offering registered under the
Securities Act of 1933. These securities have been deemed liquid under
guidelines approved by the Fund's Board of Trustees. At November 30, 2009,
the aggregate value of these securities was $169,499,963, representing
24.08% of net assets.
(f) Principal amount is stated in 1,000 Brazilian Real units
(g) Redemption price at maturity is adjusted for inflation.
(h) Security was purchased pursuant to Regulation S under the Securities Act of
1933, which exempts from registration securities offered and sold outside
of the United States. Such a security cannot be sold in the United States
without either an effective registration statement filed pursuant to the
Securities Act of 1933, or pursuant to an exemption from registration.
These securities have been deemed liquid under guidelines approved by the
Fund's Board of Trustees. At November 30, 2009, the aggregate value of
these securities was $52,784,381, representing 7.50% of net assets.
(i) Principal amount is stated in 100 Mexican Peso Units.
(j) A supranational organization is an entity formed by two or more central
governments through international treaties.
(k) The Institutional Fiduciary Trust Money Market Portfolio is managed by the
Fund's investment manager. The rate shown is the annualized seven-day yield
at period end.
At November 30, 2009, the Fund had the following forward exchange contracts
outstanding. See Note 3.
CONTRACT SETTLEMENT UNREALIZED UNREALIZED
CURRENCY COUNTERPARTY TYPE QUANTITY AMOUNT DATE APPRECIATION DEPRECIATION
-------- ------------ ---- ----------- ---------- ---------- ------------ ------------
Mexican Peso CITI Sell 11,801,000 871,083 12/01/2009 $ -- $ (41,193)
Mexican Peso CITI Buy 11,801,000 914,877 12/01/2009 3,504 --
Mexican Peso CITI Sell 34,649,958 2,467,155 12/14/2009 -- (206,690)
Mexican Peso DBAB Sell 96,948,564 7,150,021 12/22/2009 -- (323,053)
Mexican Peso DBAB Buy 96,948,564 6,847,859 12/22/2009 625,215 --
Mexican Peso DBAB Sell 40,262,564 2,971,824 12/23/2009 -- (131,306)
Mexican Peso DBAB Buy 40,262,564 2,853,275 12/23/2009 249,855 --
Mexican Peso DBAB Sell 64,556,594 4,747,856 12/24/2009 -- (226,991)
Mexican Peso DBAB Buy 64,556,594 4,565,239 12/24/2009 409,607 --
Mexican Peso DBAB Sell 7,781,929 571,256 1/20/2010 -- (26,372)
Mexican Peso DBAB Buy 7,781,929 524,565 1/20/2010 73,062 --
Mexican Peso HSBC Sell 115,740,103 8,493,876 1/21/2010 -- (393,485)
Mexican Peso HSBC Buy 115,740,103 7,868,482 1/21/2010 1,018,879 --
Mexican Peso CITI Sell 11,914,000 873,973 1/29/2010 -- (39,958)
Euro DBAB Sell 180,829 254,419 2/19/2010 -- (16,972)
Mexican Peso DBAB Sell 61,551,442 4,619,159 2/19/2010 -- (90,039)
Mexican Peso DBAB Sell 457,957,173 34,604,592 2/22/2010 -- (419,742)
Euro DBAB Sell 7,600,000 10,313,656 3/29/2010 -- (1,089,294)
Peruvian Nuevo Sol DBAB Buy 5,367,447 1,749,032 5/18/2010 111,383 --
Mexican Peso DBAB Sell 67,925,352 4,869,725 6/09/2010 -- (246,913)
Malaysian Ringgit DBAB Buy 2,499,000 694,553 7/16/2010 34,752 --
Malaysian Ringgit DBAB Buy 3,942,000 1,103,954 7/20/2010 46,340 --
Malaysian Ringgit DBAB Buy 4,793,000 1,353,572 7/23/2010 44,925 --
Malaysian Ringgit JPHQ Buy 5,039,000 1,419,437 7/27/2010 50,667 --
Euro UBSW Sell 2,260,000 3,185,809 8/20/2010 -- (199,667)
Euro DBAB Sell 2,260,000 3,192,024 8/20/2010 -- (193,452)
Euro BZWS Sell 2,260,000 3,193,493 8/20/2010 -- (191,983)
Mexican Peso DBAB Sell 74,700,583 5,514,993 8/27/2010 -- (47,639)
Euro DBAB Sell 725,485 1,052,751 9/10/2010 -- (33,710)
Euro UBSW Sell 362,390 528,275 9/13/2010 -- (14,406)
Mexican Peso DBAB Sell 13,012,157 925,862 9/15/2010 -- (40,344)
Euro DBAB Sell 688,058 1,011,032 9/22/2010 -- (19,206)
Mexican Peso DBAB Sell 39,897,968 2,806,119 10/04/2010 -- (148,076)
Mexican Peso CITI Sell 11,801,000 868,935 12/02/2010 -- (3,504)
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Unrealized appreciation (depreciation) 2,668,189 (4,143,995)
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Net unrealized appreciation (depreciation) $(1,475,806)
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At November 30, 2009, the Fund had the following interest rate swap contracts
outstanding. See Note 3.
PAY/RECEIVE
FLOATING FIXED NOTATIONAL EXPIRATION UNREALIZED UNREALIZED
COUNTERPARTY RATE RATE FLOATING RATE AMOUNT(a) DATE APPRECIATION DEPRECIATION
------------ ----------- ----- ------------------------ ------------- ---------- ------------ ------------
MLCO Pay 7.094% Tasa Nominal Annual Rate 5,100,000,000 CLP 6/16/18 $1,448,847 $--
MLCO Pay 9.03% MXN Interbank
Equilibrium Interest
Rate 241,000,000 MXN 8/17/18 1,222,535 --
MLCO Pay 9.10% MXN Interbank
Equilibrium Interest
Rate 80,000,000 MXN 8/04/28 281,782 --
---------- ---
Unrealized appreciation (depreciation) 2,953,164 --
---------- ---
Net unrealized appreciation (depreciation) $2,953,164
==========
(a) In U.S. dollars unless otherwise indicated.
CURRENCY
BRL Brazilian Real
CLP Chilean Peso
EUR Euro
GHS Ghana Cedi
IDR Indonesian Rupiah
KRW South Korean Won
LKR Sri Lankan Rupee
MXN Mexican Peso
PLN Polish Zloty
SELECTED PORTFOLIO
FRN Floating Rate Note
GDP Gross Domestic Product
COUNTERPARTY
BZWS Barclays Bank PLC
CITI Citibank, Inc.
DBAB Deutsche Bank AG
HSBC HSBC Bank USA, N.A.
JPHQ JP Morgan Chase & Co.
MLCO Merrill Lynch & Co., Inc.
UBSW UBS AG
Templeton Emerging Markets Income Fund
NOTES TO STATEMENT OF INVESTMENTS (UNAUDITED)
1. ORGANIZATION
Templeton Emerging Markets Income Fund (Fund) is registered under the Investment
Company Act of 1940, as amended, as a closed-end investment company.
2. SECURITY VALUATION
Corporate debt and government securities generally trade in the over-the-counter
market rather than on a securities exchange. The Fund may utilize independent
pricing services, quotations from bond dealers, and information with respect to
bond and note transactions, to assist in determining a current market value for
each security. The Fund's pricing services may use valuation models or matrix
pricing which considers information with respect to comparable bond and note
transactions, quotations from bond dealers, or by reference to other securities
that are considered comparable in such characteristics as rating, interest rate
and maturity date, option adjusted spread models, prepayment projections,
interest rate spreads and yield curves, to determine current value. Debt
securities denominated in a foreign currency are converted into their U.S.
dollar equivalent at the foreign exchange rate in effect at the close of the
NYSE on the date that the values of the foreign debt securities are determined.
Investments in open-end mutual funds are valued at the closing net asset value.
The Fund has procedures to determine the fair value of individual securities and
other assets for which market prices are not readily available or which may not
be reliably priced. Methods for valuing these securities may include:
fundamental analysis based upon the underlying investment book value,
anticipated future cash flows, market changes in comparable or similar
securities, matrix pricing, discounts from market prices of similar securities,
or discounts applied due to the nature and duration of restrictions on the
disposition of the securities. Due to the inherent uncertainty of valuations of
such securities, the fair values may differ significantly from the values that
would have been used had a ready market for such investments existed.
Occasionally, events occur between the time at which trading in a security is
completed and the close of the NYSE that might call into question the
availability (including the reliability) of the value of a portfolio security
held by the Fund. If such an event occurs, the securities may be valued using
fair value procedures, which may include the use of independent pricing
services. All security valuation procedures are approved by the Fund's Board of
Trustees.
3. DERIVATIVE FINANCIAL INSTRUMENTS
The Fund may invest in derivative financial instruments (derivatives) in order
to manage risk or gain exposure to various other investments or markets.
Derivatives are financial contracts based on an underlying or notional amount,
require no initial investment or an initial net investment that is smaller than
would normally be required to have a similar response to changes in market
factors, and require or permit net settlement. Derivatives may contain various
risks including the potential inability of the counterparty to fulfill their
obligations under the terms of the contract, the potential for an illiquid
secondary market, and the potential for market movements.
Derivatives are marked to market daily based upon quotations from market makers
or the Fund's independent pricing services and the Fund's net benefit or
obligation under the contract, as measured by the fair market value of the
contract, is included in net assets.
The Fund enters into forward exchange contracts in order to hedge against
fluctuations in foreign exchange rates or to gain exposure to certain foreign
currencies. A forward exchange contract is an agreement between the Fund and a
counterparty to
buy or sell a foreign currency for a specific exchange rate on a future date.
Pursuant to the terms of the forward exchange contracts, cash or securities may
be required to be deposited as collateral.
The Fund enters into interest rate swap contracts generally in order to manage
interest rate risk. An interest rate swap is an agreement between the Fund and a
counterparty to exchange cash flows based on the difference between two interest
rates, applied to a notional principal amount. Over the term of the contract,
contractually required payments to be paid and to be received are accrued daily
and recorded as unrealized depreciation and appreciation until the payments are
made, at which time they are realized. Pursuant to the terms of the interest
rate swap contract, cash or securities may be required to be deposited as
collateral. Any cash received may be invested according to the Fund's investment
objectives.
4. INCOME TAXES
At November 30, 2009, the cost of investments and net unrealized appreciation
(depreciation) for income tax purposes were as follows:
Cost of investments $656,507,828
------------
Unrealized appreciation $ 59,081,285
Unrealized depreciation (30,585,963)
------------
Net unrealized appreciation (depreciation) $ 28,495,322
============
5. FAIR VALUE MEASUREMENTS
The Fund follows a fair value hierarchy that distinguishes between market data
obtained from independent sources (observable inputs) and the Fund's own market
assumptions (unobservable inputs). These inputs are used in determining the
value of the Fund's investments and are summarized in the following fair value
hierarchy:
- Level 1 - quoted prices in active markets for identical securities
- Level 2 - other significant observable inputs (including quoted prices
for similar securities, interest rates, prepayment speed, credit risk,
etc.)
- Level 3 - significant unobservable inputs (including the Fund's own
assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not an indication of
the risk associated with investing in those securities.
The following is a summary of the inputs used as of November 30, 2009, in
valuing the Fund's assets and liabilities carried at fair value:
LEVEL 1 LEVEL 2 LEVEL 3 TOTAL
---------- ------------ ------- ------------
ASSETS:
Investments in Securities
Bonds $ -- $676,846,275 $-- $676,846,275
Short Term Investments 8,156,875 -- -- 8,156,875
---------- ------------ --- ------------
Total Investments in Securities $8,156,875 $676,846,275 $-- $685,003,150
---------- ------------ --- ------------
Swaps $ -- $ 2,953,164 $-- $ 2,953,164
Forward Exchange Contracts -- 2,668,189 -- 2,668,189
LIABILITIES:
Forward Exchange Contracts -- 4,143,995 -- 4,143,995
6. SUBSEQUENT EVENTS
The Fund has evaluated subsequent events through January 22, 2010, the issuance
date of the financial statements and determined that no events have occurred
that require disclosure.
For information on the Fund's policy regarding other significant accounting
policies, please refer to the Fund's most recent semiannual or annual
shareholder report.
ITEM 2. CONTROLS AND PROCEDURES.
(a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains
disclosure controls and procedures that are designed to ensure that information
required to be disclosed in the Registrant's filings under the Securities
Exchange Act of 1934 and the Investment Company Act of 1940 is recorded,
processed, summarized and reported within the periods specified in the rules and
forms of the Securities and Exchange Commission. Such information is accumulated
and communicated to the Registrant's management, including its principal
executive officer and principal financial officer, as appropriate, to allow
timely decisions regarding required disclosure. The Registrant's management,
including the principal executive officer and the principal financial officer,
recognizes that any set of controls and procedures, no matter how well designed
and operated, can provide only reasonable assurance of achieving the desired
control objectives.
Within 90 days prior to the filing date of this Quarterly Schedule of Portfolio
Holdings on Form N-Q, the Registrant had carried out an evaluation, under the
supervision and with the participation of the Registrant's management, including
the Registrant's principal executive officer and the Registrant's principal
financial officer, of the effectiveness of the design and operation of the
Registrant's disclosure controls and procedures. Based on such evaluation, the
Registrant's principal executive officer and principal financial officer
concluded that the Registrant's disclosure controls and procedures are
effective.
(b) CHANGES IN INTERNAL CONTROLS. There have been no significant changes in the
Registrant's internal controls or in other factors that could significantly
affect the internal controls subsequent to the date of their evaluation in
connection with the preparation of this Quarterly Schedule of Portfolio Holdings
on Form N-Q.
ITEM 3. EXHIBITS.
(a) Certification pursuant to Section 30a-2 under the Investment Company Act of
1940 of Laura F. Fergerson, Chief Executive Officer - Finance and
Administration, and Mark H. Otani, Chief Financial Officer and Chief Accounting
Officer.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
TEMPLETON EMERGING MARKETS INCOME FUND
By /s/LAURA F. FERGERSON
--------------------------------
Laura F. Fergerson
Chief Executive Officer -
Finance and Administration
Date January 27, 2010
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By /s/LAURA F. FERGERSON
--------------------------------
Laura F. Fergerson
Chief Executive Officer -
Finance and Administration
Date January 27, 2010
By /s/MARK H. OTANI
----------------------------------
Mark H. Otani
Chief Financial Officer and
Chief Accounting Officer
Date January 27, 2010